ANAC drafting decrees for bank victims

The clearer they are,the better we'll be able to manage disputes

(ANSA) - Rome, January 27 - The president of Italy's
anti-corruption authority (ANAC) Raffaele Cantone on Wednesday
said his agency is involved in "intense work" with the finance
ministry preparing drafts of decrees that will govern
compensation to victims of four failed banks rescued by a
government decree last November.
"The clearer they are, the better we'll be able to manage
disputes," Cantone said.
"So I think it's appropriate if we take a few extra days,"
he said, referring to the time it will take before the drafts
move to a review by Cabinet.
A cabinet meeting is scheduled for Thursday but most likely
the drafts won't be ready until a subsequent meeting.
The four regional lenders said Tuesday the first phase of a
search for investors took place Monday with "more than
satisfactory results".
Banca Etruria, Banca delle Marche, Cassa di Risparmio della
Provincia di Chieti (CariChieti) and Cassa di Risparmio di
Ferrara (CariFe) said they have attracted preliminary interest
from domestic and foreign parties.
The four failed banks were saved in November by a
3.6-billion-euro government-decreed rescue financed by healthy
Italian banks that saved jobs and protected account holders -
but shares and bonds in the four lenders are now worthless.
One of Banca Etruria's former bondholders committed suicide
after his life savings became worthless, and hundreds of small
investors whose savings went up in smoke are seeking government
compensation.